Oracle (ORCL) stock jumped more than 30% in early trading Wednesday after the software giant said its AI-fueled cloud revenue is set to jump to $144 billion by its 2030 fiscal year. That marks a massive leap from the company's projection of less than $20 billion for the business in its current fiscal year. "We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year — and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years ...

Oracle (ORCL) stock jumped as much as 39% in early trading Wednesday after the software giant said its AI-fueled cloud revenue is set to jump to $144 billion by its 2030 fiscal year. That marks a massive leap from the company's projection of less than $20 billion for the business in its current fiscal year. "We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year — and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four year ...

Oracle (ORCL) is set to report its fiscal first-quarter earnings Tuesday after the bell, with Wall Street expecting a 30% jump in cloud business revenue fueled by AI. Investors will also be watching closely for details on the company's $30 billion deal, reportedly with OpenAI. Shares in the software giant have soared more than 60% over the past year. The stock was down less than 1% ahead of the earnings report. The company has been securing a massive amount of Nvidia’s coveted GPUs (graphics processing u ...

Wells Fargo upgraded Thomson Reuters (NASDAQ:TRI) to Overweight from Equal Weight and raised its price target to $212 from $187. Shares rose nearly 2% in premarket trading Tuesday. The analysts said investor concerns around artificial intelligence had caused the stock’s multiple to contract but argued that Thomson Reuters was actually positioned to benefit from AI adoption. They noted that growth in the company’s Legal segment should accelerate in the second half of the year, driven by uptake of Westlaw Pre ...

Anglo American and Teck Resources have agreed to merge in an all-share transaction to create "Anglo Teck," a Canada-based miner set to become one of the world's top five copper producers. The deal marks the largest mining M&A transaction in more than a decade and comes amid a global scramble for rare earth minerals, driven by data center buildouts, power grid upgrades, electric vehicles, and other electrification trends. Under the proposed mega-merger, Anglo shareholders will hold 62.4% of Anglo Teck, while ...

Key Points Ken Griffin founded the hedge fund firm Citadel. Changes to the fund's holdings are made public via its quarterly 13F filings. You might find some candidates to add to your own portfolio in Citadel's. These 10 stocks could mint the next wave of millionaires › Why might you be interested in billionaire Ken Griffin's biggest stock holdings? Well, you might assume that as a billionaire, he'd know something about building wealth. And you'd be right. He's the founder, CEO, and co-chief inve ...

Mumbai: Fashion retailer United Colors of Benetton is seeing top-level exits in India with the CEO, commercial director and marketing head having left or on their way out of the company, according to people familiar with the development. Ramprasad Sridharan, CEO and managing director of United Colors of Benetton, India, who joined the company in June 2021, is on his way out following an over four-year-long stint. In response to Mint's queries, Benetton India confirmed that Sridharan will be moving on from ...

Goldman Sachs reiterated a Buy rating and $105 price target on CoStar Group (NASDAQ:CSGP), highlighting growth potential in the U.S. residential real estate market. The analysts said CoStar saw inefficiencies in current real estate portals, which focused on lead generation rather than property marketing. The company estimated the U.S. residential total addressable market at $3 billion, with potential EBITDA of $1.5 billion—two to three times larger than Apartments.com. Residential bookings had remained stro ...

AutoNation (NYSE:AN) disclosed on Tuesday that Edward Lampert lowered his stake in the retailer to 4.6% from a prior stake of 6.0%. Through his hedge fund, ESL Investments, Lampert has been a major shareholder in AutoNation (NYSE:AN) for many ...

Evercore ISI reiterated an Outperform rating and $625 price target on Microsoft (NASDAQ:MSFT), saying recent share weakness should be viewed in context of strong long-term fundamentals. The analysts noted that since reporting strong fourth-quarter results, Microsoft shares had fallen about 7%, compared to a 2% rise in the S&P 500. However, the stock was still up 19% year-to-date. They said Azure’s 39% year-over-year growth in Q4 remained supported by ChatGPT inferencing and steady enterprise demand, though ...